Dubai has shocked investors by asking for a debt standstill at Dubai World, the government’s flagship holding company that has developed some of the world’s most extravagant real estate projects. Dubai’s surprise move angered some investors who had been reassured by local officials for months that the city would meet all obligations on its $80bn (£48bn) of gross debt in spite of recession and a real estate crash. http://tanmaygopal.blogspot.com/2009/11/world-markets-into-downspin-after-dubai.html<goog_1259257015712> http://tanmaygopal.blogspot.com/2009/11/world-markets-into-downspin-after-dubai.html
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